Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On October 10, 2010, the Company priced $700 million of notes to be issued by
HLSS Servicer Advance Receivables Trust. The issuance and sale of the notes is
subject to customary closing conditions and is expected to close on October 17,
2012. These notes are secured by servicing advance receivables and are being
issued under the second amended and restated base indenture entered into on
September 13, 2012 and a new indenture supplement applicable to these notes
only.
Below is a brief description of the outstanding principal amount, interest rate,
term, and rating of the notes:
Interest
S&P Amount Rate Spread
Rating ($millions) (Fixed) Over Libor
One Year Term Notes -
AAA $ 215.1 1.35 % 1.01 %
AA 17.8 1.75 % 1.41 %
A 8.9 3.25 % 2.91 %
BBB 8.2 4.00 % 3.66 %
Three Year Term Notes -
AAA $ 387.1 2.00 % 1.54 %
AA 32.1 2.50 % 2.04 %
A 16.0 4.00 % 3.54 %
BBB 14.8 5.00 % 4.54 %
|
Add
HLSS to Portfolio
Set Alert
Email to a
Friend